my new indicator, which works a VERY GOOD PIVOT , WAS 4989...NIFTY touched around this lvl for 4 times and retraced back. but once another lvl 4963 was broken upside, there was no looking back for nifty.
Wednesday, June 2, 2010
IS IT A HIGHER BOTTOM ??
Marekets were very turbulant today...it looked like a DISTRIBUTION phase from intraday charts,,,almost till nifty breached one intraday low of 4953. but, another dicisive level for today was 4941. which wasnt broken.,
my new indicator, which works a VERY GOOD PIVOT , WAS 4989...NIFTY touched around this lvl for 4 times and retraced back. but once another lvl 4963 was broken upside, there was no looking back for nifty.
LOOKING, AT THE STRENGTH OF larsen , sbi , lic h fin , as on eod charts...this may be a higher bottom.
my new indicator, which works a VERY GOOD PIVOT , WAS 4989...NIFTY touched around this lvl for 4 times and retraced back. but once another lvl 4963 was broken upside, there was no looking back for nifty.
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